Please ensure Javascript is enabled for purposes of website accessibility

Why CEL-SCI Stock Soared Today

By Keith Speights - Jul 7, 2021 at 3:27PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The company attempted to clarify "confusion" related to its recent late-stage clinical results.

What happened

Shares of CEL-SCI (CVM 4.25%) soared 8.6% higher on Wednesday. The big jump came after the company released a letter to its shareholders related to results announced from a phase 3 clinical study last week.

So what

CEL-SCI reported on June 28 that its experimental immunotherapy Multikine missed the primary endpoint of a phase 3 study targeting head and neck cancer. The drug didn't improve overall survival in patients who also received chemotherapy. The biotech stock plunged 45% on the news. However, patients who received Multikine followed by surgery and radiotherapy did achieve a significant overall survival benefit. 

Two scientists looking at a monitor.

Image source: Getty Images.

Today, CEL-SCI sought to "address some confusion" about those results in its letter to shareholders. The company said that there were "some false assertions and misrepresentations" made about its results.

In particular, CEL-SCI stated that it would be able to file for U.S. Food and Drug Administration (FDA) approval of Multikine based on the results from the arm of the study with patients who received its immunotherapy along with surgery and radiation. The company also refuted allegations that it had sat on the phase 3 data for more than a year before releasing it and had done "data mining" to show a clinical benefit for Multikine.

Now what

CEL-SCI now plans to meet with the FDA with the intention to file for FDA approval of Multikine in treating patients with head and neck cancer who receive surgery and radiation as follow-on therapy. 

Keith Speights has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

CEL-SCI Corporation Stock Quote
CEL-SCI Corporation
$4.17 (4.25%) $0.17

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 08/14/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.